3i Infrastructure is investing approximately €220m to acquire 100% of Joulz Diensten, a provider of essential energy infrastructure equipment and services in the Netherlands.
Joulz is being acquired from Stedin Holding, a Dutch distribution grid operator.
It leases essential energy infrastructure equipment and meters to industrial, commercial and public sector customers.
3i said Joulz will benefit from the Dutch government’s commitment to decarbonise the domestic economy through the electrification of heat and transport, a focus on increased energy efficiency and the expansion of renewable generation.
This is expected to increase electricity consumption and demand for medium voltage equipment, and the focus on increased energy efficiency is expected to drive growth in sub-meters and data analytics, which Joulz provides.
Richard Laing, Chair of 3i Infrastructure, said: “Joulz is an attractive addition to our portfolio, with a strong established asset base as well as good potential for growth as the Netherlands accelerates its transition to more sustainable energy use.”